How Long Does a FL Realtor Have to Deliver an Escrow Deposit

An escrow deposit has two different timelines: the buyer's deadline to make the deposit under the purchase contract and the licensee's deadline to handle money after receiving it. They should never be confused.

If a Florida sales associate or broker associate receives escrow funds, the associate must deliver them to the broker by the end of the next business day. When a broker receives funds to be held in the brokerage escrow account, the broker must deposit them “immediately,” defined by the applicable rule as within three business days. Saturdays, Sundays, and legal holidays are excluded from that business-day count. These rules address handling of money already received; they do not give a buyer extra time to make a contractually due deposit.

Many Florida contracts name a title company or attorney as the escrow holder. Check the signed contract for the holder's name, address, and phone number, the amount of each deposit, and each due date. Arrange payment early enough for the holder to receive it on time, and request written confirmation of receipt. The buyer should get wire instructions directly from the title company and verify them by calling a known, independently confirmed number before sending funds.

1. Record the contract's effective date and every deposit due date.
2. Confirm who holds escrow and how that holder accepts payment.
3. Remind the buyer before the deadline and obtain a receipt from the holder.
4. Alert the agent promptly if a deposit is late or cannot be verified. Ask the agent or attorney to address any required notice or amendment.

At Christine Matus PA, I track deposit dates and follow up for receipts so the agent has a clear record from contract to close. Contact Christine to discuss transaction coordination.

Source: Florida Realtors escrow rules.